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Raymond James Financial 8-K Report, Regulation FD Disclosure (May 22, 2024)

Reports
Regulation FD·Exhibits & Filings
Filing Date
Filed May 22, 2024
Period End
May 22, 2024
Security
RJF
In the record · 2016–202610-K1010-Q338-K266

RJF filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 266 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’16Jun ’16
  2. Material agreement8-K · Feb ’19Feb ’19
  3. Leadership change8-K · Dec ’22Dec ’22
  4. Leadership change8-K · Sep ’26Sep ’26

01—Abstract

Summary

Summary of the 8-K filed May 22, 2024. Cited figures are marked; the original filing is the authoritative source.

Raymond James Financial, Inc. furnished a Current Report on Form 8-K dated May 22, 2024, attaching a press release that discloses selected operating data for April 2024.

The company states that this monthly data is provided for timely investor information, and that a consistent correlation to earnings should not be assumed given its limited nature. Client assets under administration were $1,409.5 billiona as of April 30, 2024, up 13% from April 30, 2023 ($1,246.3 billion) but down 3% from March 31, 2024 ($1,449.1 billion). Chair and CEO Paul Reilly attributed the year-over-year increase to market appreciation and advisor retention and recruiting, and the monthly decline to lower equity markets.

Private Client Group assets under administration were $1,350.2 billionb, and Private Client Group fee-based account assets were $776.6 billion, up 16% year-over-year. Financial assets under management were $219.1 billion, up 12% year-over-year. Clients' domestic cash sweep and Enhanced Savings Program balances were $56.4 billion, up 8% year-over-year but down 3% from the prior month, which the company attributed mainly to quarterly fee billings and tax payments.

Bank loans, net, were $44.5 billionc, up 2% year-over-year and 1% from March 31, 2024. Reilly also noted that the investment banking pipeline is healthy, but the timing of closings remains unpredictable.

02—Key points

Key Highlights

  1. Client assets under administration reached $1,409.5 billion at April 30, 2024, up 13% year-over-year but down 3% from March 31, 2024.
  2. Private Client Group fee-based account assets were $776.6 billion, up 16% from April 30, 2023 and down 3% from March 31, 2024.
  3. Financial assets under management were $219.1 billion, up 12% year-over-year and down 3% month-over-month.
  4. Clients' domestic cash sweep and Enhanced Savings Program balances were $56.4 billion, up 8% year-over-year and down 3% from the prior month due to quarterly fee billings and tax payments.
  5. Bank loans, net, were $44.5 billion, up 2% year-over-year and 1% from March 31, 2024.
  6. Management described the investment banking pipeline as healthy, but said the timing of closings remains unpredictable.
  7. The company states the data is limited in nature and a consistent correlation to earnings should not be assumed.

03—Questions

Frequently Asked Questions

  1. What did Raymond James disclose in this 8-K filing?

    The company furnished a press release dated May 22, 2024, under Item 7.01 (Regulation FD Disclosure), reporting selected operating data for April 2024, including client assets, fee-based assets, financial assets under management, bank loans and cash sweep balances.

  2. How did client assets change in April 2024?

    Client assets under administration were $1,409.5 billion at April 30, 2024, up 13% from $1,246.3 billion a year earlier and down 3% from $1,449.1 billion at March 31, 2024. Management attributed the year-over-year increase to market appreciation and advisor retention and recruiting, and the monthly decline to lower equity markets.

  3. Why did cash sweep and Enhanced Savings Program balances decline in April?

    Clients' domestic cash sweep and Enhanced Savings Program balances were $56.4 billion, down 3% from the preceding month. The company said the decline was primarily due to quarterly fee billings and tax payments, although these balances were up 8% from a year earlier.

  4. Should investors expect this monthly data to track earnings?

    No. The press release states that, due to the limited nature of this data, a consistent correlation to earnings should not be assumed.

04—Continue

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